Leases (Tables)

9 Months Ended

Sep. 30, 2020

Leases [Abstract]

Assets and liabilities, lessee

The following table summarizes the Company’s leases:

	September 30, 2020					December 31, 2019
(Dollars in thousands)	Finance Leases			Operating Leases		Finance Leases		Operating Leases
ROU assets	$	5,999				6,537
Accumulated depreciation	(212)					(917)
Net ROU assets	$	5,787		47,329		5,620		41,453
Lease liabilities	$	5,917		50,089		5,671		43,904
Weighted-average remaining lease term	24 years			17 years		24 years		19 years
Weighted-average discount rate	2.6		%	3.5	%	3.0	%	3.7	%

Operating lease liability maturity

Maturities of lease liabilities consist of the following:

	September 30, 2020
(Dollars in thousands)	Finance Leases		Operating Leases
Maturing within one year	$	259	4,608
Maturing one year through two years	265		4,431
Maturing two years through three years	270		3,961
Maturing three years through four years	277		3,914
Maturing four years through five years	285		3,869
Thereafter	6,808		48,432
Total lease payments	8,164		69,215
Present value of lease payments
Short-term	214		2,973
Long-term	5,703		47,116
Total present value of lease payments	5,917		50,089
Difference between lease payments and present value of lease payments	$	2,247	19,126

Finance lease liability maturity

Maturities of lease liabilities consist of the following:

	September 30, 2020
(Dollars in thousands)	Finance Leases		Operating Leases
Maturing within one year	$	259	4,608
Maturing one year through two years	265		4,431
Maturing two years through three years	270		3,961
Maturing three years through four years	277		3,914
Maturing four years through five years	285		3,869
Thereafter	6,808		48,432
Total lease payments	8,164		69,215
Present value of lease payments
Short-term	214		2,973
Long-term	5,703		47,116
Total present value of lease payments	5,917		50,089
Difference between lease payments and present value of lease payments	$	2,247	19,126

Components of lease expense

The components of lease expense consist of the following:

	Three Months ended			Nine Months ended
(Dollars in thousands)	September 30, 2020		September 30, 2019	September 30, 2020	September 30, 2019
Finance lease cost
Amortization of ROU assets	$	59	16	174	48
Interest on lease liabilities	40		2	121	6
Operating lease cost	1,254		1,057	3,553	2,967
Short-term lease cost	88		102	266	330
Variable lease cost	264		236	977	657
Sublease income	(2)		(2)	(5)	(5)
Total lease expense	$	1,703	1,411	5,086	4,003

Supplemental cash flow information related to leases is as follows:

	Three Months ended
	September 30, 2020			September 30, 2019
(Dollars in thousands)	Finance Leases		Operating Leases	Finance Leases	Operating Leases
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows	$	40	706	2	565
Financing cash flows	23		N/A	21	N/A

	Nine Months ended
	September 30, 2020			September 30, 2019
(Dollars in thousands)	Finance Leases		Operating Leases	Finance Leases	Operating Leases
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows	$	121	1,994	6	1,541
Financing cash flows	67		N/A	63	N/A